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Bob, at an auction for the first time, bids on an item, believing the price asked was lower than actually asked. Bob is a) liable

Bob, at an auction for the first time, bids on an item, believing the price asked was lower than actually asked. Bob is

a) liable on the bid

b) not liable only if he truly misunderstood the bid

c) not liable only if the item is overpriced

d) not liable in any event

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